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HealthTrust presents...Virtual HTU: “How the Rx Inventory Turns – A Centralized Influence”

Pharmaceutical inventory management has historically been overseen at the hospital level. The enterprise average inventory turns (AIT) was not optimal. In 2008, ASHP guidelines for medication cost management stated AIT was 8-18 based on hospital size. Presenters will share how the lack of corporate pharmaceutical inventory oversight was apparent at their organization. Its Pharmacy Operations team developed oversight tools, engaged the hospitals’ Directors of Pharmacy and made recommendations for better inventory management from 2020 to 2023. Attendees will hear the beneficial results from this corporate Pharmacy Operations Inventory oversight initiative, resulting in a steady increase in AIT year-over-year.

Learning Objectives | At the end of this session, participants should be able to:

1. Recall guidelines for annual inventory turns (AIT) and the impact on overall business performance in healthcare organizations
2. Identify centralized inventory management tools and functionalities to effectively monitor and control inventory levels
3. Recognize strategies to analyze data and metrics related to inventory turns, identify trends and make data-driven decisions to improve AIT

Presenters:

Bryan Jones, MS  |  AVP of Pharmacy Operations  |  Lifepoint Health

Todd White, PharmD, MBA-HM, BCSCP  |  AVP of Pharmacy Operations  |  Lifepoint Health

Target Audience:  Pharmacy, Supply Chain & Healthcare Executives

Continuing Education Information:

• Approved for Pharmacy credit. Belmont University College of Pharmacy is accredited by the Accreditation Council for Pharmacy Education as a provider of continuing pharmacy education. The ACPE Universal Activity Number for this activity is 0863-9999-24-090-L04-P. The activity is approved for 1 hour of continuing education credit to Pharmacists who attend the webinar and complete the online evaluation.
• AHRMM will offer 1.0 CPEs for those who attend the webinar and complete the online evaluation.
• By attending How the Rx Inventory Turns – A Centralized Influence offered by HealthTrust, participants may earn up to 1 ACHE Qualified Education Hours toward initial certification or recertification of the Fellow of the American College of Healthcare Executives (FACHE) designation.
• Members who attended the live HTU event and applied for CE credit are not eligible to receive credit for the same program in a virtual format.
• If you plan to obtain credit for a live session, stay until the end of the presentation to receive the verification code you will need to obtain the continuing education credit. CE credit is individual. No group credit is available. Each person must register for a webinar and attend the webinar in its entirety in order to receive an email after the event with instructions on how to apply for continuing education credit. Attendees should not share the code or forward the email to others who did not actually attend the program. If they are not able to be verified on our webinar provider reports and registration list they will not receive credit. If you are joining only by phone, you will not be eligible for credit. You must also log in and join the visual portion of the webinar to be part of our CE provider-required reporting.